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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Summary of Common Stock Reserved for Future Issuance

Shares of our common stock reserved for future issuance as of December 31, 2019 were as follows (in thousands):

		Number of
		Shares
Stock options outstanding			16,665
Stock options available for grant			4,971
Employee Stock Purchase Plan			370
Warrants outstanding			508
Shares of common stock underlying Convertible Notes outstanding (see Note 8)			8,960
Total shares reserved for future issuance			31,474

Summary of Stock Option Activity

The following table summarizes the stock option activity:

		Outstanding Options
						Weighted-
						Average
		Number of				Exercise
		Shares				Price
Balance at December 31, 2016			11,845,376			$	14.44
Granted			4,300,621			$	16.17
Exercised			(1,350,605	)		$	8.49
Cancelled			(1,332,428	)		$	20.06
Balance at December 31, 2017			13,462,964			$	15.03
Granted			4,052,011			$	26.83
Exercised			(1,529,509	)		$	11.97
Cancelled			(720,859	)		$	17.98
Balance at December 31, 2018			15,264,607			$	18.33
Granted			4,933,480			$	24.21
Exercised			(1,983,221	)		$	11.18
Cancelled			(1,550,226	)		$	23.26
Balance at December 31, 2019			16,664,640			$	20.47

Schedule of Options Exercisable, Vested or Expected to Vest

		Years Ended December 31,
		2019								2018								2017
						Weighted-								Weighted-								Weighted-
						Average								Average								Average
						Exercise								Exercise								Exercise
		Options				Price				Options				Price				Options				Price
Exercisable at end of year			7,436,379			$	17.02				6,523,093			$	14.83				5,446,586			$	13.25
Options vested or expected to vest			15,962,432			$	20.31				14,449,017			$	18.11				12,854,571			$	14.98

Schedule of Exercise Prices And Weighted-average Remaining Contractual Lives For Options Outstanding

Exercise prices and weighted-average remaining contractual lives for the options outstanding as of December 31, 2019 were:

																				Weighted-
								Weighted-												Average
								Average				Weighted-								Exercise
								Remaining				Average								Price of
Options				Range of				Contractual				Exercise				Options				Options
Outstanding				Exercise Prices				Life (in years)				Price				Exercisable				Exercisable
	3,027,881			$5.20–$13.00					4.97			$	10.16				2,720,921			$	9.84
	3,834,655			$13.05–$17.00					7.42				16.23				2,326,188				16.17
	1,623,707			$17.05–$24.55					8.01				20.10				704,338				20.48
	2,336,151				$24.97				8.93				24.97				644,066				24.97
	3,877,880				$25.02				9.95				25.02				—				—
	1,940,366			$25.06–$38.75					7.58				30.48				1,032,365				30.38
	24,000				$39.00				8.56				39.00				8,501				39.00
	16,664,640								7.58				20.47				7,436,379				17.02

Summary of Stock-Based Compensation Expense related to Stock-Based Payment Awards Granted

The following table summarizes stock-based compensation expense related to stock-based payment awards granted pursuant to all of our equity compensation arrangements (in thousands):

		December 31,
		2019				2018				2017
Research and development		$	19,202			$	13,689			$	11,312
General and administrative			13,564				9,630				9,469
Sales and marketing			18,645				10,048				9,757
Total stock-based compensation expense		$	51,411			$	33,367			$	30,538

Summary of Fair Value of Option Grant and ESPP Purchase Right on Grant Date Using Black-Scholes Option Pricing Model

We estimated the fair value of each option grant and ESPP purchase right on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

Options:

		December 31,
		2019				2018				2017
Risk-free interest rate			1.8	%			2.8	%			2.1	%
Dividend yield			—	%			—	%			—	%
Volatility			66.5	%			70.4	%			74.0	%
Expected life (years)			6				6				6

ESPP:

		December 31,
		2019				2018				2017
Risk-free interest rate			1.9	%			2.4	%			1.2	%
Dividend yield			—	%			—	%			—	%
Volatility			52.1	%			59.7	%			50.0	%
Expected life (months)			6				6				6

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